RediShred Capital (CVE:KUT) Sets New 12-Month High – Here’s What Happened

RediShred Capital Corp. (CVE:KUT)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as C$4.89 and last traded at C$4.87, with a volume of 105706 shares. The stock had previously closed at C$4.11.

Wall Street Analyst Weigh In

KUT has been the topic of a number of research analyst reports. Singular Research upgraded shares of RediShred Capital to a “strong-buy” rating in a research note on Monday, September 30th. Cormark lifted their price target on shares of RediShred Capital from C$5.75 to C$6.00 in a research report on Friday, August 30th.

RediShred Capital Price Performance

The company has a quick ratio of 1.33, a current ratio of 0.46 and a debt-to-equity ratio of 69.47. The firm has a fifty day moving average price of C$4.15 and a two-hundred day moving average price of C$3.47. The stock has a market capitalization of C$89.17 million, a P/E ratio of 31.62 and a beta of 1.34.

RediShred Capital (CVE:KUT) last announced its earnings results on Wednesday, August 28th. The company reported C$0.05 EPS for the quarter, hitting analysts’ consensus estimates of C$0.05. RediShred Capital had a return on equity of 5.09% and a net margin of 3.69%. The firm had revenue of C$17.95 million during the quarter, compared to analysts’ expectations of C$18.28 million. On average, analysts expect that RediShred Capital Corp. will post 0.237933 EPS for the current year.

About RediShred Capital

RediShred Capital Corp., together with its subsidiaries, operates the Proshred franchise and license business in the United States. The company operates through three segments: Franchising and licensing, Corporate Locations, and Corporate. It grants and manages shredding business franchises under the Proshred brand, as well as operates corporate shredding locations.